NEW DELHI: Indian shares are expected to trade in a range with a positive bias on Thursday tracking strong Asian markets. The immediate support level for Nifty is around 5,920.

"The Nifty is now expected to head lower till 5920 with resistance around 5994 in the short term. The key support in the immediate run will be around 5920 and resistance will be at 5994," says Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

"The Nifty has taken resistance around the upward sloping trend line and has closed in the negative on the daily chart, which indicates weakness in the short term," he added.

Mehta is of the view that the Nifty's short-term bias has changed to negative for a target of 5850. The medium-term outlook remains positive with reversal at 5823.

Here is a list of twelve stocks that are likely to be in action in morning trade today:

1) Railways stocks are likely to be in focus after the Railway Minister Pawan Kumar Bansal announced a fare hike with effect from January 21-22 midnight.

However, the BJP, Left parties and Trinamool Congress today slammed the government for the hike in passenger rail fares and demanded its immediate rollback.

2) Telecom companies are likely to be in focus after they are set to drag the government to court after the telecom department issued notices to all operators this week directing them to pay a one-time on the existing airwaves they hold.

3) OMCs will be in focus after the Oil ministry has made a proposal to cabinet to raise diesel prices and increase the number of subsidised cylinders available to households to nine a year from the current cap of six.

4) JSW Ispat Steel, after the ten promoter group companies have sold their 6.38 per cent stake in the company for Rs 174.47 crore. According to the filings made by the 10 companies to the BSE, over 16 crore shares amounting to 6.38 per cent JSW Ispat Steel were sold through both off and on market transactions for Rs 174.47 crore.

5) Mahindra & Mahindra Ltd, after the domestic utility vehicle major said it will jointly invest $900 million (Rs 4,927 crore) with its Korean subsidiary SsangYong Motor Company to develop products over the next four years.

6) Alok Industries Ltd, after the textile major Alok Industries is looking at exiting its retail ventures as it wants to focus on its 'core businesses' and shift from non-core businesses such as retail which have increased its debt burden.

7) EPC Industries Ltd, after Credit Renaissance Fund today offloaded its entire over 17 per cent stake in micro irrigation systems maker EPC Industries for more than Rs 61 crore in bulk deals on the exchanges.

8) Reliance Industries Ltd, after the newly formed Cabinet Committee on Investment will soon consider clearing 47 oil & gas blocks, including RIL's producing KG-D6 gas fields, where defence clearance has either been withdrawn or withheld.

9) Engineers India Ltd, after the government is expected to consider tomorrow proposals for 10% stake sale in Engineers India Ltd, which may fetch around Rs 645 crore to the exchequer, and a revival package for sick PSU Scooters India Ltd.

10) Scooters India Ltd, after media reports suggested that the government may consider the Rs 200-crore revival package for Scooters India Ltd (SIL). The Cabinet is expected to take up the proposal for revival of SIL through cash and non-cash assistance.

11) Gujarat NRE Coke, after the company's third-quarter net profit rose more than eleven-fold to Rs.20.12 crore from the Rs.1.90 crore in the third-quarter of 2012.

12) Coal India Ltd, after the world's largest coal miner, is set to fund construction of a large rail network connecting the country's coalfields.